LeapRate's Daily Forex Industry Newsletter

Join now to receive first access to our EXCLUSIVE reports and updates.

Screenshot of a breaking news alert e-mail from Q2 2017

Please check your email to confirm your subscription

Something went wrong

We hate SPAM and promise to keep your email address safe

Intercontinental Exchange Inc (NYSE:ICE), the international network of exchanges and clearing houses, earlier today reported its key financial metrics for the third quarter and the first nine months of 2015, with earnings staging a robust rise in annual terms.

Net income attributable to ICE for the three months to September 30, 2015, amounted to $306 million, up massive 48.5% from the result of $206 million recorded in the corresponding period in 2014.

During the first nine months of 2015, the net income attributable to ICE reached $904 million, up 30.5% from the result reported for the same period in 2014.

Revenues from consolidated data services for the period were a record $209 million, up 24% year-over-year and listings revenues were $101 million, up 10% compared to the prior third quarter.

Consolidated operating expenses were $376 million for the third quarter of 2015, including $6 million in NYSE integration costs. Consolidated operating income for the third quarter was $440 million and operating margin was 54%.

First Nine Months of 2015

Consolidated revenues, less transaction-based expenses, for the first nine months of the year increased 7% year-on-year to $2.5 billion. The amount includes $1.4 billion of transaction and clearing revenues, less transaction-based expenses.

Consolidated data services revenues for the first nine months of 2015 hit a record $614 million, up 22% year-over-year and listings revenues were a record $303 million, up 11% compared to the prior period. Consolidated other revenues were $132 million.

Consolidated operating expenses were $1.1 billion for the first nine months of 2015, including $31 million in NYSE integration costs. Consolidated operating income for the first nine months of 2015 was $1.3 billion and operating margin was 54%.

Consolidated cash flows from operations were $890 million for the first nine months of 2015.

Unrestricted cash and short-term investments were $708 million and outstanding debt was $3.5 billion as of September 30, 2015.

Scott A. Hill, ICE CFO, said: “We drove growth through a range of organic initiatives, while continuing to reduce expenses and expand operating margins. We also generated strong cash flow and maintained a strong balance sheet with low leverage which enabled us to return $847 million to shareholders through dividends and share repurchases during the first nine months of the year.”

Financial Outlook

ICE forecasts adjusted operating expenses for the fourth quarter of 2015 to be in the range of $330 million to $335 million.

ICE’s diluted share count for the fourth quarter and full year 2015 is forecast to be in the range of 110 million to 112 million weighted average shares outstanding, including share repurchases through October 2015 and excluding any shares issued for the Interactive Data Corporation acquisition (IDC). The deal is expected to close in December 2015 or January 2016.

To view the official announcement from ICE on its financial metrics for the third quarter of 2015, click here.

Your Forex Industry Source

LeapRate is an independent research and advisory firm, specialized in covering the world of Forex trading. We are followed by hundreds of thousands of traders, investors and other FX industry participants via our website, Facebook, Twitter, LinkedIn, RSS and Email Newsletter.Email: [email protected]